UK Government
This coverage examines UK Government policies, decisions, and initiatives that impact the retail industry. Reporting includes legislation, economic measures, consultations, and regulatory changes affecting operations, employment, taxation, and sustainability in the sector. Retail executives, managers, and policy specialists can use this analysis to understand how government actions shape the business environment and influence strategic planning.
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Mar- 2021 -16 MarchTechnology
Rezolve closes on £540m fundraising
Rezolve, a mobile shopping platform startup, is reportedly closing in on a funding round that would value the group at $750m (£540m). According to Sky News, Dan Wagner, the company’s founder, is on the brink of finalising a $20m (£14.4m) cash injection for the group. City sources told the publication…
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Jan- 2021 -11 JanuaryHigh Street
Small retailers could fold without help, FSB warns
Small retailers are among the 250,000 UK small businesses set to fold without further help, a new report by the Federation of Small Businesses (FSB) reveals. According to data published in its Small Business Index (SBI), a “record number” of small business owners are planning to close their companies over…
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Dec- 2020 -9 DecemberComment
The building blocks of app commerce
As the UK Government brings in a new wave of regulations to try to limit the spread of the Covid-19 virus, retailers are entering their most competitive virtual holiday season yet. It is vital that retailers allocate enough focus and resource to their mobile apps as the channel that will…
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7 DecemberDIY
Kingfisher set to return business rates relief funds
Kingfisher has announced it intends on returning the full amount of business rates relief received to the UK and ROI as a result of the Covid-19 crisis. Kingfisher said its “total annual business rates bill” eligible for this relief is approximately £130m, of which £110m falls in FY 20/21 and…
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Nov- 2020 -3 NovemberClothing & Shoes
ABF profit slumps as Primark hit by £2bn loss
Associated British Foods, the parent company of Primark, has announced that statutory operating profit tumbled 40% to £810m in the full-year ended 12 September 2020. In the same period, group revenue fell by 12% to £13.9bn following the impact of the ongoing pandemic. The full year decline in group revenue…
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2 NovemberClothing & Shoes
Primark warns of £375m lockdown hit
The parent company of Primark has warned that the retailer will face a £375m hit to sales, in an update issued ahead of the nationwide lockdown that begins this week. As of today (2 November), all Primark stores in the Republic of Ireland, France, Belgium, Wales, Catalonia in Spain and…
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Sep- 2020 -10 SeptemberCoronavirus
Government launches new ‘bounce back’ plan for retailers
A new series of measures has been announced by the UK Government to support businesses in the consumer and retail industries during the Covid-19 pandemic. The plans, announced by Minister for exports Graham Stuart, will offer immediate support to businesses by ensuring specialists provide advice on online retail and international…
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Jun- 2020 -16 JuneClothing & Shoes
Joules predicts £3m loss after pandemic hit
Fashion retailer Joules has predicted an underlying loss for its 2020 financial year of between £2m and £3m attributed to the impact of the coronavirus pandemic. In a pre-closing update ended 31 May 2020, Joules said the impact of the Covid-19 virus between March and May resulted in a “material…
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Apr- 2020 -30 AprilCoronavirus
Next and Dixons urge government for furlough clarity
Retailers Next and Dixons Carphone have called on the UK Government to clarify the exit strategy for its furlough scheme. According to The Telegraph, bosses at the firms are concerned that a quick shutdown could lead to a high level of redundancies before they can fully resume regular operations. Currently…
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21 AprilCoronavirus
11.7 million people at risk of furlough or unemployment over coming months
Almost 11.7 million people could be furloughed or unemployed in the coming months, according to new research from independent think-tank Resolution Foundation (RF). The group said that although the UK Government’s Job Retention Scheme (JRS) will “substantially limit” the growth of unemployment, it added the “evidence is clear” that the…
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